Financing for Industrial Process Measurement, Display and Control Instruments

With these loans for industrial process measurement, display and control instruments, the SBA guarantees the lender that the loan will be repaid. This industrial process measurement, display and control instruments loan for $650,000 was given to a Massachusetts entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Concord, Massachusetts was able to borrow $650,000 from Eastern Bank. The SBA made the loan possible by guaranteeing $487,500 of this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL PROCESS MEASUREMENT, DISPLAY AND CONTROL INSTRUMENTS
CONCORD, MA 01742

SBA Loan Lender

EASTERN BANK
265 FRANKLIN ST
BOSTON, MA 02110

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

334513 - Industrial Process Measurement, Display and Control Instruments

Loan Approval Date

4/2/2004

Loan Approval Gross Amount

$650,000

Loan Approval from the SBA

Of the total $650,000 loan amount, the SBA guaranteed $487,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 10 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 10 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

Obtaining Funding - How to Decide How Much to Raise

Small Business Banks in Boston, Massachusetts

Massachusetts SBA 7A Banks